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20130113
20130121
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on 7 news at 9:00. president obama draws new line in the sand on american debt ceiling. tonight what happens if the limit is not lifted and who feels it first. first. >> nissan íáf- >> treasury secretary geithner tell congressional leaders that the government will exhaust its borrowing limit as soon as mid february not march as expected. in the mean time president obama insists tonight that he will not negotiate with house republicans over the debt ceiling. mark matthews looks at the challenge the president is facing. >> president told reporters raising the debt ceiling is not a question of more spending. >> it's simply allows the country to pay for spending that congress has already committed to. >>reporter: then he repeated that. >> raising the debt ceiling does not authorize to us spend more. >>reporter: in the 40 minute press conference he said it half dozen times. >> this is about paying your bills. >>reporter: if the u.s. defaults on the debt. >> social security checks veteran benefit will be delaye delayed. might not be able to pay our troops. honor our contract with
the government hit the debt ceiling at the end of december, but treasury secretary tim geithner was able to extend government funding through february 15. republicans want big spending cuts in exchange for raising the borrowing limit. president obama says he will not negotiate with congress paying its own bills. >>> did you see a big difference? the first paycheck of the new year brought surprises and raised eyebrows for at love people all over the country. as pam cook reports in our newsroom, it's not a good surprise, pam. it's expected to have a big impact on the economy. >> reporter: yes, it is. the country did not fall off that fiscal cliff but as a result, some people say it feels like their personal budgets did. the federal compromise means tax breaks for social security and medicare expire. for singles earning $200,000 a year, couples earning $250,000 a year, that translates to about a 2% cut to their take- home pay. one man said he and his wife are losing nearly $300 a month. that's their car payment or groceries for the month. the nonpartisan tax policy center estimates that 77%
, that the consequences of failing to increase the debt seal ceiling are real, but so also are the results of allowing our spending problem go unresolved. president obama said he is open to discussing deficit reductions, but only after congress first pay this bills that the country already owes. >> the federal government takes a larger chunk of paychecks. that's because during the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so warmer weather on the horizon, it's not going to be here
that the debt is endangers children's future, that the consequences of failing to increase the debt seal ceiling are real, but so also are the results of allowing our spending problem go unresolved. president obama said he is open to discussing deficit reductions, but only after congress first pay this bills that the country already owes. >> the federal government takes a larger chunk of paychecks. that's because during the fiscal cliff debate, congress allowed a temporary cut in social security taxes to expire, mean that social security taxes have increase thousand by 2%. economists anticipate the payroll increase tax hike will reduce u.s. house hold incomes by a collective $125 billion this year. >>> a another brutely cold night and into tomorrow morning. it is going to be freezing and below freezing once again. a look here at the pattern. we remain with the trough to the east of us. a ridge of high pressure to the west, but this ridge is slowly nudging east, and eventually, by midweek wednesday and lasting into the weekend, it will be overis, and that is going to bringis warmer weather. so wa
:00 and 9:00 a.m. for the first in line at 9:00. >>> still ahead, debt ceiling deja vu. from social security to interest rates, the president lays down the law and the cuts that could be coming our way. but is the situation as dire as they make it? >>> a somber anniversary in newtown as parents mark one month since their children were killed. their new proposal today and the unthinkable has happened again. a brutal gang rape in india that started with just a bus ride next in "world tonight." >>> also, he used to shoot with his gun. now this former cop uses his camera to shoot 49ers games. >>> welcome back. now if you thought the doomsday scenarios were bad under the fiscal cliff, just wait for what's coming next. >> the debt ceiling talks are under way. president obama warns the dire consequences if congress fails to raise our borrowing limits. in tonight's reality check, sam brock explains why most people should just take a deep breath. sam? >> raj, it would be therapeutic if nothing else. there is certainly little refuting the failure to raise the debt ceiling would send shock waves throug
back at 6:00 the president draws a new line in the sand on america's debt ceiling. what happens if the limit isn't lifted? who will feel it first? >> a gun buy back. it's not just weapons they're after. a poll revealing hows&á america feels about gun control. >> and the internet hero who took his life in the middle of a new campaign for social justice, online. stay with us. the ne hmm, it says here that cheerios helps lower cholesterol as part of a heart healthy diet. that's true. ...but you still have to go to the gym. ♪ the one and only, cheerios ...and now... you! [ giggles ] ♪ the one and only, cheerios >>> president obama insists he will not negotiate with white house rinz over the debt keeling and says the full faith and credit of the united states will not be a bargaining chip. abc 7 news mark matthews is here with the challenge that the president is facing on this. >> the president says concept understand.jjw that is not what we found and the challenge facing the president is one that he began to address this morning. president told reporters raising the debt keelin
today to raise the country's $16.4 trillion debt ceiling. >> if congressional republicans refuse to pay american's bills on time, social security checks and veterans' benefits will be delayed. we might not be able to pay our troops or honor our contracts with small business owners so to even entertain the idea of this happening, of the united states of america not paying its bills is irresponsible. >> in a news conference, the president warned that not increasing the debt limit is irresponsible and would harm the economy. republicans in the house want spending cuts if the debt ceiling is raised. >>> on wall street, stocks traded mostly sideways as the markets finished mixed. dow industrial gained 18 points. nasdaq dropped 8 weighed down by a decline in apple. the company saw its stocks slump following report apple has cut orsd for iphone 5 components. the report suggests demand for the iphone 5 stagnated relatively quickly. stokss dripped below 500 down $18 and change or 3 and a half percent. apple's all-time high is 700. >>> a bay area pizza chain is giving money back to its workers. a
-- the debt ceiling. he called on congress today to act quickly to raise it.saying america is not a 'dead-beat nation' that doesn't pay its bills. he says the mere threat of defaulting on government obligations is hurting the economy. the government has hit its borrowing limit and is expected to run out of ways to pay bills by early march. most people have never heard launchers and other weapons. former president bush is finally released from a hospital. right now, 40's through daly city. as for the current temperatures? quickly dropping into the 40's. 44 in daly city. a 49 in fremont. but we are in for a nother round of the 30's and '40's again tonight. from the san mateo bridge we are seeing clear skies. the cold air mass with the combination of these things and a light went with cold temperatures and yet again the. taking a look at futurecast. widespread 30's. take a look a your screen. already 20's and 30's for the north bay. temperatures will start to warm up of but very slowly. still dealing with a 30 degree readings. temperatures in your neighborhood, coming up. >> most people have
Search Results 0 to 7 of about 8